Retrospective rating plan means a rating plan that adjusts the premium for the insurance to which it
Retrospective rating plan means a method of determining the premium upon which taxes are calculated that provides for the rela- tionship between the premium for tax purposes, the experience modification rate developed to reflect the loss payment and incurredloss experience of the self-insured employer, and the actual incurred losses for the tax year.
Retrospective rating plan means a rating plan that adjusts the premium for the insurance to which it applies on the basis of losses incurred during the period covered by that insurance.
More Definitions of Retrospective rating plan
Retrospective rating plan means a method of determining the premium upon which taxes are calculated that provides for the relationship between the premium for tax purposes, the experience modification rate developed to reflect the loss pay-
Retrospective rating plan means a method of determining the premium upon which taxes are calculated that provides for the relationship between the premium for tax purposes, the experience modification rate developed to reflect the loss payment and incurred loss experience of the self-insured employer, and the actual incurred losses for the tax year. “Securities” or “security” means a guaranty bond, a bond of the United States or its agencies, United States’ Treasury
Retrospective rating plan means a method of determining the premium upon which taxes are calculated that provides for the relationship between the premium for tax purposes, the experience modification rate developed to reflect the loss pay- ment and incurred loss experience of the self-insured employer, and the actual incurred losses for the tax year. “Securities” or “security” means a guaranty bond, a bond of the United States or its agencies, United States’ Treasury Notes, a letter of credit, or Local Government Investment Pool (LGIP) funds, or appropriate documents renewing or continu- ing any of these.